Shree Cement declined 2.31% to Rs 24,008 on profit booking after a recent rally.
Shares of Shree Cement gained 3.63% in the past two trading sessions to settle at Rs 24,575.25 yesterday, 30 December 2020, from its close of Rs 23,713.65 on Monday, 28 December 2020.
On the technical front, the stock's RSI (relative strength index) stood at 52.239. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 23,369.80 and its 200-day moving average (DMA) placed at 21,146.29.
Shree Cement's consolidated net profit jumped 68.5% to Rs 527.87 crore on 8.2% rise in net sales to Rs 3,249.93 crore in Q2 September 2020 over Q2 September 2019.
Shree Cement is primarily an Indian cement manufacturer. It also produces and sells power under the name Shree Power and Shree Mega Power.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
